Pete..... .as you can probably guess, them's AIN'T braggin' compressions. Ford specs for OHV Red-Tiger 134cu/in engine is 110psi min (dry). Usually an engine in good condition will come-up +20psi wet, yer uppin' +30psi wet. And yer #2 gottza burned exhaust valve, 'cuz it don't change wet or dry. 50# oil pressure is braggin' pressures. Is it hard to start or reasonable? Iff'n it starts eazy, then probably NO need to rebuild. Me? I'd probably give the rings some MMO (Marvel Mystery Oil) treatment (read can lable) Others like ATF (enny brand) to un-sticky the rings. Then after 3-days of MMO treatment, I'd do 'nutter compression test, dry then wet. Iff'n it improves compression, and you generally don't burn oil, (you'll smogg the skeeters with the MMO treatment fer'bout 1/2-hr) then based upon its starting ability, base an engine rebuild decision (kit about $500) on yer skill level and desire. Professional rebuild $2000+ Remember, those old tractors were designed for horse farmers and you can operate a computer ..... .Dell
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